The United Motorcoach Association SmartWay Revolving Loan Program (UMA SmartWay) seeks to provide financing for our member diesel vehicle operating companies to implement diesel emission reduction solutions and fuel-saving measures that will contribute to cleaner air and greener transportation options.
SmartWay Clean Diesel Finance Program
This program allows the EPA to issue competitive grants to establish national low-cost revolving loans or other financing programs that will provide funding to fleets to reduce diesel emissions.
For what may SmartWay Clean Diesel Finance Program funds be used?
• cooperative agreements are used to establish innovative financing, but the financing must lower costs to the buyer by providing lower interest rates, longer repayment terms, greater likelihood of loan approval, or some other financial incentive where the loan recipient receives a specific financial incentive for the eligible vehicle or equipment
• finance proposals may include, but are not limited to, the following: issuance of loan guarantees, issuance of tax exempt or taxable bonds to create a low-cost loan program, and revolving loan funds
• applicants may propose innovative financing programs for the purchase or retrofit of the following types of vehicles and equipment: buses, medium or heavy duty trucks, marine engines, locomotives, and non-road engines or vehicles used in construction, handling of cargo, agriculture, mining, and energy production